Which of the following is not a characteristic of most less-developed countries?
a. Inadequate human capital
b. High population growth rate
c. Inadequate capital goods
d. High productivity
e. Inadequate water supplies
d
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Suppose the California Nurses Union successfully secured a 12 percent increase in the wages of registered nurses
If a hospital responds by reducing the quantity of registered nurses hired and increasing the quantity of physician's assistants hired, what conclusion can you draw? A) The price elasticity of demand for registered nurses is negative while the price elasticity of demand for physician's assistants is positive. B) The cross-price elasticity of demand between registered nurses and physician's assistants is negative. C) Physician's assistants are more valuable in terms of their productivity. D) The cross-price elasticity of demand between registered nurses and physician's assistants is positive.
The velocity of money is
A) the average number of times that a dollar is spent in buying the total amount of final goods and services. B) the ratio of the money stock to high-powered money. C) the ratio of the money stock to interest rates. D) the average number of times a dollar is spent in buying financial assets.